NEUBERGER BERMAN REAL ESTATE SECURITIES INCOME FUND ANNOUNCES EARLY DECLARATION OF REGULAR MONTHLY DISTRIBUTION
Neuberger Berman Real Estate Securities Income Fund (NYSE American: NRO) has announced an early declaration of its regular monthly distribution for February 2025. The Fund will distribute $0.0312 per share of common stock, payable on February 28, 2025, with a record and ex-date of February 6, 2025.
Under its level distribution policy, the Fund plans to maintain this monthly distribution rate, subject to market conditions. However, the Fund notes that distribution continuity depends on various factors, including investment income stability, capital gains availability, leverage costs, and Fund expenses. The distributions may comprise net investment income, realized capital gains, and return of capital, with final tax characteristics to be determined after year-end 2025.
Il Neuberger Berman Real Estate Securities Income Fund (NYSE American: NRO) ha annunciato una dichiarazione anticipata della sua distribuzione mensile regolare per febbraio 2025. Il Fondo distribuirà $0.0312 per azione di azioni ordinarie, pagabile il 28 febbraio 2025, con una data di registrazione e di stacco il 6 febbraio 2025.
In base alla sua politica di distribuzione costante, il Fondo prevede di mantenere questo tasso di distribuzione mensile, soggetto alle condizioni di mercato. Tuttavia, il Fondo osserva che la continuità della distribuzione dipende da vari fattori, inclusa la stabilità del reddito da investimento, la disponibilità di guadagni in conto capitale, i costi di leva e le spese del Fondo. Le distribuzioni possono comprendere reddito netto da investimenti, guadagni in conto capitale realizzati e restituzione di capitale, con le caratteristiche fiscali finali che saranno determinate dopo la fine dell'anno 2025.
El Neuberger Berman Real Estate Securities Income Fund (NYSE American: NRO) ha anunciado una declaración anticipada de su distribución mensual regular para febrero de 2025. El Fondo distribuirá $0.0312 por acción de acciones comunes, pagadero el 28 de febrero de 2025, con una fecha de registro y ex fecha del 6 de febrero de 2025.
Bajo su política de distribución a nivel, el Fondo planea mantener esta tasa de distribución mensual, sujeta a las condiciones del mercado. Sin embargo, el Fondo señala que la continuidad de la distribución depende de varios factores, incluidos la estabilidad del ingreso por inversiones, la disponibilidad de ganancias de capital, los costos de apalancamiento y los gastos del Fondo. Las distribuciones pueden consistir en ingresos netos de inversión, ganancias de capital realizadas y devoluciones de capital, con las características fiscales finales que se determinarán después del cierre del año 2025.
뉴버거 버만 부동산 증권 소득 펀드(NYSE American: NRO)는 2025년 2월의 정기 월 배당금을 조기 발표했습니다. 이 펀드는 주당 $0.0312의 보통주 배당금을 2025년 2월 28일에 지급하며, 기록일 및 배당락일은 2025년 2월 6일입니다.
이 펀드는 균형 배당 정책에 따라 시장 상황에 따라 이 월 배당금 비율을 유지할 계획입니다. 그러나 펀드는 배당금의 연속성이 투자 수익 안정성, 자본 이익의 가용성, 레버리지 비용 및 펀드 비용 등 다양한 요인에 따라 달라진다고 언급했습니다. 배당금은 순투자 수익, 실현된 자본 이익 및 자본 반환을 포함할 수 있으며, 최종 세무 특성은 2025년 연말 이후에 결정될 것입니다.
Le Neuberger Berman Real Estate Securities Income Fund (NYSE American: NRO) a annoncé une déclaration anticipée de sa distribution mensuelle régulière pour février 2025. Le Fonds distribuera 0,0312 $ par action d'actions ordinaires, payable le 28 février 2025, avec une date d'enregistrement et une date ex le 6 février 2025.
Selon sa politique de distribution à niveau, le Fonds prévoit de maintenir ce taux de distribution mensuelle, sous réserve des conditions du marché. Cependant, le Fonds note que la continuité des distributions dépend de divers facteurs, y compris la stabilité des revenus d'investissement, la disponibilité des gains en capital, les coûts d'effet de levier et les dépenses du Fonds. Les distributions peuvent comprendre des revenus nets d'investissement, des gains en capital réalisés et un retour de capital, les caractéristiques fiscales finales devant être déterminées après la fin de l'année 2025.
Der Neuberger Berman Real Estate Securities Income Fund (NYSE American: NRO) hat eine vorzeitige Erklärung seiner regulären monatlichen Ausschüttung für Februar 2025 bekannt gegeben. Der Fonds wird 0,0312 $ pro Aktie ausgeben, zahlbar am 28. Februar 2025, mit einem Registrierungs- und Ex-Tag am 6. Februar 2025.
Gemäß seiner Politik zur konstanten Ausschüttung plant der Fonds, diesen monatlichen Ausschüttungssatz beizubehalten, vorbehaltlich der Marktbedingungen. Der Fonds weist jedoch darauf hin, dass die Kontinuität der Ausschüttung von verschiedenen Faktoren abhängt, einschließlich der Stabilität der Investitionserträge, der Verfügbarkeit von Kapitalgewinnen, den Kreditkosten und den Ausgaben des Fonds. Die Ausschüttungen können aus Nettoinvestitionserträgen, realisierten Kapitalgewinnen und Kapitalrückgaben bestehen, wobei die endgültigen steuerlichen Merkmale nach Ende des Jahres 2025 festgelegt werden.
- Consistent monthly distribution policy maintained at $0.0312 per share
- Distribution sustainability depends on multiple uncertain factors
- Distributions may include return of capital, which could reduce investor's cost basis
Insights
The early declaration of NRO's
The high yield signals potential sustainability concerns, particularly in the current real estate market environment. The fund's disclosure about distribution sources is notably cautious, indicating payments could include return of capital - effectively giving investors their own money back. This practice, while common in certain closed-end funds, can mask underlying performance issues.
The fund's explicit statement about distribution maintenance depending on factors like leverage costs and investment income stability suggests potential vulnerabilities. With interest rates remaining elevated, the cost of leverage could pressure the fund's ability to maintain this distribution level. The real estate sector's ongoing challenges, particularly in commercial properties, may also impact the fund's capacity to generate sufficient income from its underlying investments.
For retail investors seeking simpler terms: Think of this like a building promising to pay its tenants a fixed amount monthly, regardless of actual rental income. While the payments are continuing now, the building owner (the fund) is being careful to say they might need to use savings or take loans to keep making these payments if rental income (investment returns) isn't enough.
Under its level distribution policy, the Fund anticipates that it will make regular monthly distributions, subject to market conditions, of
The distribution announced today, as well as future distributions, may consist of net investment income, net realized capital gains and return of capital. In compliance with Section 19 of the Investment Company Act of 1940, as amended, a notice would be provided for any distribution that does not consist solely of net investment income. The notice would be for informational purposes and not for tax reporting purposes, and would disclose, among other things, estimated portions of the distribution, if any, consisting of net investment income, capital gains and return of capital. The final determination of the source and tax characteristics of all distributions paid in 2025 will be made after the end of the year.
About Neuberger Berman
Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with over 2,800 employees in 26 countries. The firm manages
Statements made in this release that look forward in time involve risks and uncertainties. Such risks and uncertainties include, without limitation, the adverse effect from a decline in the securities markets or a decline in the Fund's performance, a general downturn in the economy, competition from other closed end investment companies, changes in government policy or regulation, inability of the Fund's investment adviser to attract or retain key employees, inability of the Fund to implement its investment strategy, inability of the Fund to manage rapid expansion and unforeseen costs and other effects related to legal proceedings or investigations of governmental and self-regulatory organizations.
Contact:
Neuberger Berman Investment Advisers LLC
Investor Information
(877) 461-1899
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SOURCE Neuberger Berman
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